Institute of Certified Bookkeepers
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Not for Profit Employees Rental Allowance

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  • # 118513

Hi,

I just wanted to know how I should process this rental allowance for a Not-for-Profit business. The contract states "You will receive a rental allowance of $200/wk which shall be automatically deducted from the Group's rental expense for the Accommodation. You agree that the Group will set-off the difference between the weekly rental expense and your Rental Allowance against your remuneration."

Do I allocate the $200/wk as a non-taxable (before tax) allowance and then use a non-taxable (before tax) deduction for the Groups rental Expense?

  • 7 posts
  • # 118532

LeanneS said:

Hi,

I just wanted to know how I should process this rental allowance for a Not-for-Profit business. The contract states "You will receive a rental allowance of $200/wk which shall be automatically deducted from the Group's rental expense for the Accommodation. You agree that the Group will set-off the difference between the weekly rental expense and your Rental Allowance against your remuneration."

Do I allocate the $200/wk as a non-taxable (before tax) allowance and then use a non-taxable (before tax) deduction for the Groups rental Expense?


 Great question you asked. Why don't you take professional advice at AcoBloom International? They give 20 hours of free service.

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